Coupang, Inc. (CPNG) Key Metrics
CPNG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $25.62B
- Enterprise value
- $25.19B
- P/E (TTM)
- — 10-yr median 210.4
- Forward P/E
- 69.4
- PEG ratio
- 1.16
- Price / sales
- 0.7 10-yr median 1.3
- Price / book
- 8.6 10-yr median 9.8
- EV / EBITDA
- — 10-yr median 35.7
- Dividend yield
- —
- Beta
- 1.17
CPNG key metrics, 2018–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCPNG valuation Price multiples at each fiscal year-end price.
CPNG returns How much profit the business earns on the capital it uses.
CPNG per-share figures Results divided by the shares outstanding at year-end.
CPNG financial health Debt, liquidity and how easily interest is covered.
CPNG efficiency & capital use Working capital cycle and where the cash goes.
CPNG valuation history
CPNG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CPNG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CPNG cash returned to shareholders
CPNG price vs earnings per share
CPNG key metrics
2018–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||
| Market capitalization | $43.76B | $40.14B | $29.19B | $25.96B | $41.83B | — | — | — |
| Enterprise value | $42.08B | $37.98B | $26.73B | $24.85B | $40.47B | — | — | — |
| P/E ratio | 210.4 | 260.6 | 21.5 | — | — | — | — | — |
| Price / sales | 1.3 | 1.3 | 1.2 | 1.3 | 2.3 | — | — | — |
| Price / book | 9.5 | 9.8 | 7.1 | 10.8 | 19.2 | — | — | — |
| Price / free cash flow | 83.8 | 39.9 | 16.6 | — | — | — | — | — |
| Price / operating cash flow | 24.7 | 21.3 | 11.0 | 45.9 | — | — | — | — |
| EV / sales | 1.2 | 1.3 | 1.1 | 1.2 | 2.2 | — | — | — |
| EV / EBITDA | 35.1 | 36.3 | 29.5 | 150.6 | — | — | — | — |
| EV / free cash flow | 80.6 | 37.7 | 15.2 | — | — | — | — | — |
| Earnings yield | 0.5% | 0.4% | 4.7% | −0.4% | −3.7% | — | — | — |
| Free cash flow yield | 1.2% | 2.5% | 6.0% | −1.0% | −2.6% | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.6% | 0.4% | 0.0% | 0.0% | 0.0% | — | — | — |
| Share price at fiscal year-end | $23.59 | $21.98 | $16.19 | $14.71 | $29.38 | — | — | — |
| Per share | ||||||||
| Revenue per share | $18.62 | $16.58 | $13.52 | $11.66 | $12.93 | $7.01 | $3.92 | $2.53 |
| Earnings per share | $0.11 | $0.08 | $0.75 | −$0.05 | −$1.08 | −$0.27 | −$0.44 | −$0.69 |
| Operating cash flow per share | $0.96 | $1.03 | $1.47 | $0.32 | −$0.29 | $0.18 | −$0.19 | −$0.43 |
| Free cash flow per share | $0.28 | $0.55 | $0.97 | −$0.15 | −$0.76 | −$0.11 | −$0.33 | −$0.49 |
| Cash per share | $3.41 | $3.22 | $2.91 | $1.99 | $2.45 | $0.73 | $0.76 | $0.38 |
| Book value per share | $2.49 | $2.25 | $2.27 | $1.37 | $1.53 | −$2.38 | −$2.21 | −$0.47 |
| Tangible book value per share | $2.39 | $2.10 | $2.25 | $1.37 | $1.51 | −$2.39 | −$2.21 | −$0.47 |
| Dividends per share | — | — | — | — | — | — | $0.95 | — |
| Capex per share | $0.67 | $0.48 | $0.50 | $0.47 | $0.47 | $0.28 | $0.14 | $0.06 |
| Debt per share | $2.50 | $2.04 | $1.55 | $1.36 | $1.49 | $1.31 | $0.80 | $0.58 |
| Shares outstanding | 1.85B | 1.83B | 1.80B | 1.76B | 1.42B | 1.71B | 1.60B | 1.60B |
| Change in shares outstanding | +1.6% | +1.3% | +2.2% | +23.9% | −16.6% | +6.7% | 0.0% | — |
| Returns & profitability | ||||||||
| Return on equity (ROE) | 4.8% | 3.8% | 41.8% | −4.0% | — | — | — | — |
| Return on invested capital (ROIC) | 9.7% | 12.2% | 32.2% | −8.4% | — | — | — | — |
| Return on assets (ROA) | 1.3% | 1.1% | 11.9% | −1.0% | −22.5% | −11.2% | −28.5% | −66.4% |
| Return on tangible assets | 1.2% | 1.0% | 10.2% | −1.0% | −17.9% | −9.2% | −21.6% | −66.6% |
| Free cash flow margin | 1.5% | 3.3% | 7.2% | −1.3% | −5.9% | −1.5% | −8.4% | −19.4% |
| Income quality (OCF / net income) | 8.52 | 12.25 | 1.95 | — | — | — | — | — |
| Financial health | ||||||||
| Total debt | $4.63B | $3.73B | $2.79B | $2.40B | $2.12B | $2.23B | $1.28B | $932.3M |
| Cash & short-term investments | $6.32B | $5.88B | $5.24B | $3.51B | $3.49B | $1.25B | $1.22B | $611.5M |
| Net debt | −$1.68B | −$2.15B | −$2.46B | −$1.11B | −$1.37B | $982.7M | $54.2M | $320.8M |
| Debt / equity | 1.00 | 0.91 | 0.68 | 1.00 | 0.97 | — | — | — |
| Debt / assets | 0.26 | 0.24 | 0.21 | 0.25 | 0.25 | 0.44 | 0.40 | 0.56 |
| Net debt / EBITDA | −1.40 | −2.06 | −2.71 | −6.71 | — | — | — | — |
| Current ratio | 1.04 | 1.17 | 1.14 | 1.15 | 1.19 | 0.76 | 1.15 | 0.80 |
| Quick ratio | 0.79 | 0.89 | 0.90 | 0.82 | 0.89 | 0.45 | 0.81 | 0.55 |
| Interest coverage | 5.5 | 3.1 | 9.9 | -4.1 | -33.2 | -4.8 | -6.6 | -14.8 |
| Working capital | $334.0M | $1.28B | $947.0M | $767.0M | $892.5M | −$892.0M | $273.2M | −$307.4M |
| Invested capital | $2.94B | $1.95B | $1.63B | $1.31B | $809.3M | −$3.09B | −$3.48B | −$431.8M |
| Tangible asset value | $4.43B | $3.83B | $4.05B | $2.41B | $2.16B | −$4.08B | −$3.54B | −$756.9M |
| Net current asset value | −$3.47B | −$2.25B | −$1.36B | −$1.27B | −$829.1M | −$6.30B | −$4.61B | −$1.17B |
| Graham number | $2.51 | $2.06 | $6.20 | — | — | — | — | — |
| Graham net-net per share | −$2.94 | −$2.20 | −$1.63 | −$1.49 | −$1.50 | −$4.25 | −$3.24 | −$0.99 |
| Capital allocation | ||||||||
| Dividends paid | — | — | — | — | — | — | $1.52B | — |
| Share buybacks (net) | $243.0M | $178.0M | $0 | $0 | $0 | $97.0M | $114.6M | $0 |
| Dividends + buybacks / free cash flow | 46.6% | 17.7% | 0.0% | — | — | — | — | — |
| Capex / revenue | 3.6% | 2.9% | 3.7% | 4.0% | 3.7% | 4.0% | 3.5% | 2.3% |
| Capex / operating cash flow | 70.6% | 46.6% | 33.8% | 145.8% | — | 160.7% | — | — |
| Capex / depreciation | 2.42 | 2.03 | 3.26 | 3.57 | 3.35 | 3.80 | 3.07 | 1.74 |
| Stock-based compensation / revenue | 1.4% | 1.4% | 1.3% | 1.3% | 1.4% | 0.3% | 0.3% | 0.7% |
| SG&A / revenue | 28.0% | 27.7% | 23.4% | 23.4% | 24.1% | 20.9% | 26.7% | 30.6% |
| Efficiency | ||||||||
| Days sales outstanding | 4.1 | 4.3 | 3.7 | 3.2 | 2.4 | 2.1 | 2.6 | 2.3 |
| Days of inventory on hand | 32.6 | 32.1 | 33.3 | 35.4 | 30.5 | 32.8 | 35.6 | 37.0 |
| Days payables outstanding | 88.7 | 90.7 | 87.5 | 81.2 | 75.0 | 82.3 | 96.7 | 111.9 |
| Cash conversion cycle (days) | -52.0 | -54.3 | -50.4 | -42.6 | -42.0 | -47.4 | -58.4 | -72.6 |
| Receivables turnover | 89.70 | 83.96 | 97.92 | 114.56 | 149.27 | 177.15 | 139.76 | 156.41 |
| Payables turnover | 4.12 | 4.02 | 4.17 | 4.49 | 4.87 | 4.44 | 3.78 | 3.26 |
| Inventory turnover | 11.20 | 11.39 | 10.95 | 10.31 | 11.97 | 11.13 | 10.24 | 9.88 |
| Asset turnover | 2.08 | 2.11 | 2.13 | 2.27 | 2.69 | 2.88 | 2.57 | 2.45 |
| Average receivables | $385.0M | $360.5M | $249.0M | $179.7M | $123.3M | $67.6M | $44.9M | $25.9M |
| Average payables | $5.93B | $5.33B | $4.36B | $3.53B | $3.18B | $2.25B | $1.39B | $1.18B |
| Average inventory | $2.18B | $1.88B | $1.66B | $1.54B | $1.29B | $896.5M | $511.5M | $391.2M |
| Intangibles / total assets | 1.1% | 1.8% | 0.3% | 0.0% | 0.2% | 0.2% | 0.2% | 0.3% |
Computed from CPNG's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CPNG valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Coupang traded at 210.4 times earnings, against a 8-year median of 210.4. Coupang earned a return on equity of 4.8% and a return on invested capital of 9.7% in fiscal 2025. It ended the year with $4.6 billion of debt and $6.3 billion in cash and short-term investments, a net cash position of $1.7 billion. It returned $243.0 million to shareholders: $0 in dividends and $243.0 million in share buybacks, 47% of free cash flow. The share count rose 16.0% from 1.60B to 1.85B over 7 years.
See the CPNG income statement, the CPNG chart for price history, or the CPNG stock overview for the latest quote and news.
CPNG key metrics FAQ
What is Coupang's P/E ratio?
Coupang traded at 210.4 times earnings at the end of fiscal 2025.
What is Coupang's EV/EBITDA?
Coupang's enterprise value was 35.1 times EBITDA at the end of fiscal 2025 (enterprise value $42.1 billion, EBITDA $1.2 billion).
What is Coupang's return on equity?
Coupang's return on equity (ROE) was 4.8% in fiscal 2025: net income of $208.0 million on average shareholders' equity of $4.4 billion.
What is Coupang's ROIC?
Coupang's return on invested capital was 9.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Coupang have?
Coupang had total debt of $4.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.00 and more cash than debt.
Does Coupang buy back its shares?
Yes. Coupang spent $243.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.6% over the year, to 1.85B..
What is Coupang's free cash flow yield?
Coupang generated $522.0 million of free cash flow in fiscal 2025, a free cash flow yield of 1.2% on its market value at year-end ($43.8 billion).
What is Coupang's current ratio?
Coupang's current ratio was 1.04 at the end of fiscal 2025: current assets were 1.04 times current liabilities.